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Volkswagen Germany to cut 50,000 jobs
Oliver Blume, CEO of Volkswagen Group, announced that the company plans to cut 50,000 jobs by 2030 due to the challenges facing the company and the difficulties within the automotive industry, with an expectation that conditions will worsen by 2026. He pointed out that the current business model is no longer effective and needs to be developed, with the goal of making Volkswagen the most attractive company in the world by the end of the decade and achieving a sales return of between 8% and 10%.
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